10204. Farmers State Bank (Fordland, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 21, 1926
Location
Fordland, Missouri (37.158, -92.941)

Metadata

Model
gpt-5-mini
Short Digest
ea256e58

Response Measures

Full suspension, Books examined

Other: Liquidation/receivership paid depositors 100 cents on dollar later in 1926.

Description

A false/erroneous report that the cashier had attempted suicide (actually a paralytic stroke) triggered a run (Jan 21–22, 1926). Officers closed the bank and placed it in charge of the State Finance Department; the bank did not resume normal operations and was liquidated later in 1926 (liquidation reported Oct 7, 1926).

Events (3)
1. January 21, 1926 Run
Cause
Rumor Or Misinformation
Cause Details
An erroneous/false report that the cashier (G. W. Jones) had attempted suicide (actually he suffered a paralytic stroke) circulated and sparked withdrawals.
Random Run
Yes
Random Run Snippet
erroneous report cashier attempted suicide; caused run; books OK
Measures
Bank officers notified the State Finance Department; state examiner (Charles W. Moody/Leon Clippard) was sent to examine books and was placed in charge.
Newspaper Excerpt
an erroneous report that G. W. Jones, cashier ... had attempted to commit suicide, caused a 'run' on the institution.
Source
newspapers
2. January 21, 1926 Suspension
Cause
Government Action
Cause Details
Officers/board closed the bank and requested state finance department to take charge after the run, leading to suspension of operations.
Newspaper Excerpt
the Farmers' State Bank ... was closed by order of its board of directors. ... placed in charge of the State Finance Department.
Source
newspapers
3. October 7, 1926 Receivership
Newspaper Excerpt
Liquidation ... shows that he has collected out of the assets and paid 100 cents on the dollar to claims ... reported the petition ... and dividends paid ... the bank was liquidated and paid in full in Missouri history fashion.
Source
newspapers

Newspaper Articles (9)
1. January 21, 1926 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, January 21, 1926

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SMALLEST BANK IN STATE OF MISSOURI CLOSES ITS DOORS Did Not Cause Bank Run To Suspend Operations, Moody Declares. The first bank failure for 1926 occurred yesterday when the Farm. ern' State Bank of Fordland, one of the smallest in the state, was closed by order of It's board of rectors. State Finance Commissloner C. E. French was requested take charge of the to and Leon was sent to state bank examiner, Fordland this morning. According to Charles W Moody, cashier the McDaniel National here, conducted State amination of the bank, that the Institution had been operating it's organization because the fact had only vary small business. The bank had fund loans of $34,500. his Moody stated that was opinion, after thorough examination of the bank's books, that the institution could pay all of its depositors without report that "run" had caused the failure of the bank nied by Moody, who that there the He that the business, the $14 than the day's deposits. the last day In business deposits were $654, while the withtotaled $669.00 ever heard of $14 he said. HODGE HURT. the Frisco suffered slight injury to right hand the shops this morning He taken the Frisco hospital in an ambulance, where his Injuries treatHe not seriously hurt, phy. sicians the hospital stated, following treatment the man was sent to his home.

2. January 21, 1926 The Springfield News-Leader Springfield, MO
Article from The Springfield News-Leader, January 21, 1926

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CLIPPARD IS PLACED IN CHARGE Examination of Books Made by c. W. Moody Shows At fairs in Good ConditionJ. W. Goad, President. A report that G. Jones, Farmers State bank Fordland, had commit suicide caused the Institution which placed in the the state Springfield, the state finance placed charge. The report that Mr. Jones commit suicide caused when he suffered stroke paralysis, according to reports Fordland. Mrs. neighbor's home doctor and within the report current the cashier attempted suicide. soon became apparent there would bank the officers of the institution notified the state banking departcharge. Charles cashier of the National bank of Springfield former state aminer, to Fordland and amined the books. After detailed examination, the Springfield banker announced that was no reason for the stitution, as the books were in shape. Officers of the institution there long made the bank, that the bank expected to dollar pay for dollar liquidated, Mr. Moody, band had total resources of surplus more than $1,000. Loans by the totaled $33,789 Officers the institution John Jones, cashier, Cardwell, assistant cashier.

3. January 22, 1926 St. Louis Globe-Democrat St. Louis, MO
Article from St. Louis Globe-Democrat, January 22, 1926

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Reported Suicide Attempt of Cashier Causes Run on Bank SPECIAL DISEATCH TO THE DEMOCRAT. -An erroneous report that G. W. Jones, cashier of the Farmers' State Bank at Fordland. Mo., had attempted to commit suicide, caused a 'run" on the institution. which resulted in its affairs being placed in the hands of the State Finance Department yesterday. Leon Clippard, of Springfield, an official of the State Finance Department was placed in charge. The report that Jones had attempted suicide when he suffered stroke of paralysis, according to reports from Fordland. Mrs. Jones ran to neighbor's home for doctor and within short time. the report current that the bank cashier had attempted to end his life. Notify State Officers. As soon as it became apparent that there would be run on the bank officers of the institution notified the State Banking Department to take charge. Charles W. Moody, cashier of the McDaniel National of Spring field, and former bank examiner went to Fordland and examined the books. After making detailed examination, the Springfield banker announced that there was no reason for run on\the institution as the books were in shape. Many Long Term Loans. Officers of the institution said there were many long term loans made by the bank but that all were good. Fordland business men said the bank was expected pay dollar for dollar if liquidated. According to Moody the bank had total resources of $34,544 and surplus of more than $1,000. Loans made by the bank totalled $33,789. Officers of the institution are: John W. Goad, G. W. Jones, cashier, and R. F. Cardwell, assistant cashier.

4. January 24, 1926 The Springfield News-Leader Springfield, MO
Article from The Springfield News-Leader, January 24, 1926

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MAY HELP FINANCING BANK Agreement Between Officers of Bank of Fordland and Farmers State Bank Thought Likely. While no statement has been made officials Farmers State Bank Fordland, Mo., which recently its doors, officials the Bank Fordland, was pressed the would taken by Fordland, and the of the institution closed doors out without loss the positors. Should this be done, according talk in the depositors would obtain holdings and the stockholders in the would securities held by banks refused hight make and said that chance bank would take over the business other merely hope. State Charge. The defunct placed charge of the finance departSo far records of the are appear be first-class Leon bank examiner, said last Investigation the fairs, has progressed cashier of the defunct bank, and the false whose said to have been responsible the the bank that sulted the closing the was said yesterday afternoon serious condition as result paralytic stroke.

5. January 25, 1926 The Kansas City Star Kansas City, MO
Article from The Kansas City Star, January 25, 1926

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DISTRICT 18 HEAD PICKED Counties in Northern Kansas Southern Nebraska in Charge of High School Principal Named Chairman. latter first became commissioner, is now matter of history Today the booking clerk awoke with sore throat. On the way to work he CHANDLER, JUNCTION CITY, TO stopped in the Bryant building to visit TORICAL CONTEST PLACE. his doctor. A treatment was given. was almost time for Hermanson to report He banged out of the doctor's of fice and made run for the elevator He jumped through the narrow open ing and absent mindedly threw back his coat, disclosing his badge. The car came to dead stop floors and 2. "What did ever do?" demanded the elevator girl You have the wrong Jan. E. party. You can't arrest me. No. sir Chandler principal of the Junction City high will be chairman of dis"Oh," said the clerk when he could in The Star's third annual get word "I thought I was getting torical contest for high school students on street car H Chandler The contest, on the Constitution is na in The Star's territory districts in Mis Kansas, Nebraska and Colorado, which will be under charge of Mr. will in charge of the Chandler contestants in sixteen counties in North and Southern They are Cloud, Clay, Otta wa and Geary counties in Kan NichThayer, Lan more Clay The chairman pects work in co-operation with the high school principals of his district. will chosen early in April and will meet district contest at Junction City about April 16. Mr Chandler widely known among Kansas He been secre Kansas State Asthe four and has taken an active part school affairs of the of district 18 last The under the diyear at rection of E. B. Gift. superintendent of schools. District honors went to Harold Hughes of Manhattan CASE TO COURT to Decide Whether Married Woman Can Attend School. Mo., Tomorrow Jan Judge Frank Kelly of Cape Girardeau Mrs. Mat will decide whether tingly daughter of D. Lair, shall at tend school until hearing in the case can be had, following her dismissal by the board after she was married in December Charleston busi to ness man. Attorneys representing Mrs. Mat tingly and the board of education have submitted the case in brief to Judge Kelly for an opinion. The board of the first of education passed rule at the school providing that present term married should not attend school in Charleston. The was taken before the county court and temporary injunction was granted. permitting her attend last Tuesday the board decided not to abide by the order because the plaintiff failed to file a bond Final action on the injunction would have been In the circuit court next Lair, who is handling the case for attorney for the board of education went to Cape Girardeau, where they presented the case to Judge Kelly Assets of Defunct Farmers State May Be Taken Over by Another. FORDLAND. Mo., Jan. 25.-A movement was launched here Saturday whereby the Bank of Fordland will take over the assets of the defunct Farmers State Bank. which closed its doors last week The defunct bank has been placed in charge of the state finance department The records the bank appear to be in Mrst class shape, according to Leon Clippard, state bank examiner The investigation of the bank's affairs, however has not progressed far W. Jones, cashier of the defunct bank. the false report of whose illness was said to have been responsible for the run on the bank. is said to be critical condition of as result a stroke. CALLS ON THE DOCTOR. Time Clock at Police Headquarters Beckons Booking Clerk. Frank E. Hermanson, clerk at police headquarters. another bid to fame. Frank's celebrated "so's your old man,' cast knowingly at M. A. O'Donnell when the RUSH TO NEW LEAD DISTRICT Strike Is Attracting Hundreds to VIcinity of Death Valley. ert next door to the famous Death Val ley the newest mining camp in Califor nia has sprouted here the last few days The lodestone which is drawing pros pectors, investors and speculators that friend of the plumber. prosaic lead Leadfield. now a tent village of more than two hundred population, lies in California valley eighteen miles, by Nev. A highway-also is under construe tion, pointed through Death Valley itself toward Leadfield Half dozen companies ready are developing properties in the baby camp, while claim location stakes clutter the landscape for radius of eighteen miles. LOGS TOO BIG FOR MILLS. Washington Spruce Trees Be Used more spruce logs will be out upper Wyncoche River country They too big for the mills to A log averaging eleven feet in dfameter ruined considerable machinery in mill here this week being maneuvered for sawing There are hundreds of spruce trees in the upper according to for esters, which measure more than eleven feet in diameter even high the special request is being to congress to set this tract of huge living trees national ment is believed the grove contains the largest spruce in the

6. January 27, 1926 The Weekly Kansas City Star Kansas City, MO
Article from The Weekly Kansas City Star, January 27, 1926

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SHOWS HOME COSTLY HUGE OF DENT'S RESIDENCE Itemized Statement The recent charges of extravagance the use of state funds repair and official residence of President Stratton D. Brooks on the campus University of Missouri in Columbia, substantiated in an state expenditures made public James Goodrich, chairman of board curators figures were requested nearly one ago, when it discovered biennial report that nearly was expended on the president's following the election of Dr. Brooks as head of the university. For was believed an error had the curators' report. home, 2-story brick builderected in 1868 for about DEPARTMENTS NEED. large expenditure the presi home attracted particular atten this time, in of the fact struggling to increase support fund for the big in the university New buildings the last are un completed. investigation. caused rumors reaching certain the expenditures, resulted in the exoneration of all although least member board admitted unnecessary expenses repairs and improveunder the general direction board three of the university's architects and Brooks. The itemized statement, submitted Judge Goodrich by Edward E. Brown. of the university, expenditures $67,943.94 Bellows (upper the home. Whether additional sums in landscape gar. Dr. dening and refurnishing the house, and which has occupied by Dr. awarded honorary Brooks's immediate predecessors, not tinction the Missouri College shown in the statement. Records of the culture last board curators published with the week showed an expenditure for Missourians known included in itemized stateThe presentation was Dean explaining the $67,000. Jesse hall Mumford at Brown says the remodeled resi- president Dr. Beale has been dence far more substantial. comOzark Association modious and useful unit than ever beyears past president While not fireproof structure. Society Missouri State many fire hazards have been removed. Mr. known It has been made into modern. well equipped residence, when constructure the money expended It must be lined sidered original (built in 1868) has been fifty. with gold." seven years. not surprising that DR. BROOKS IS SILENT. expenditure was necessary to accomplish this result." Not Time for Statement on Home Expense, Says Head. BIG CONTRACT ITEMIZED. The largest expenditure, shown in the Associated Press.) statement which was submitted for Columbia, D. proval Dr. Brooks, was Brooks, president the University the general contractor, the Simon Con- declared he did struction Company. This contract was care this time make statement on the "cost plus" system, used concerning the use state funds relargely the World War period, the pair and his official residence contractor receiving 15 per cent of the on the campus expended. The expenditures the "If and when the time comes for contractor not itemized in the state. statement from me regarding this at he said, shall make one, but Jamieson & Spearl of St. Louis the that time architects, received Coons, the timekeeper, $333.51 FORDLAND, MO., MERGER gallon softener installed Assets of Defunct Farmers State May tof waterproofing Be Taken by Another. the basement cost The general contract cov. Fordland. Mo. movement was ered largely the and launched Saturday whereby the but not the plumbing, inteBank of Fordland will take over the as. rior which took additional $17,000. The sets the defunct Farmers State Bank, the finish which closed its doors last week. and cost the elec- The defunct bank has been placed in trical fixtures wiring, the charge of the and heating The the bank to The first class shape, to Leon other "equipment" cost Clippard, state work, Jones, cashier the defunct for removal of debris, added bank. the false report of whose illness total cost. for the Some details in Mr. Brown's report: run on the bank, is said to be in Electrical for president's critical as result of paraGross stroke. cent THREE DIE IN FARM FIRE. and Gasoline Poured Stove Gaunt Home Near Chillicothe, Mo. Chillicothe, Fannie Gaunt and two of her children are dead sult fire which destroyed their home and fifteen miles southwest of this city last week. Junior, and Earl. 17. and the mother died of Ray Gaunt, 26. another son, also and badly burned, dangerous condi ventilating tion. Nellie Gaunt, and Wauneta, 15, system, burned severely. Fire started when gasoline was poured Mr. Brown notes in his statement. from can into wood stove in which careful check work by the fire had supposedly gone out general contractor was kept the university Mrs. Gaunt's husband died two years timekeeper, receiving $85 month. ago, and drowned in Grand

7. January 28, 1926 The Journal-Gazette West Plains, MO
Article from The Journal-Gazette, January 28, 1926

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Closes Doors The Cashier Becomes report last Thursday that Jones, cashier of the Farmers State Bank at Fordland. in Webster counon the Frisco Railroad west of this city, had attempted to commit suicide ,caused "run" on the institution, which resulted in the affairs being placed in the hands of the State Finance Department. The report that Jones had attemptsuicide was caused when he suffered stroke of paralysis. Mrs. Jones ran neighbor's home doctor and within short time the report was current that the bank cashier had attempted suicide. As soon It became apparent that there would be run on the bank the officers of the institution advised the State Finance Department at Jefferson City and they sent to take charge at once. Charles W. Moody. cashier of the McDaniel National Bank of Springfield, and former state bank examiner, went to Fordland and examined the books. After making detailed examination. the Springfield banker announced that there was no reason for run on the institution as the books were in good shape. Officers of the institution said there were many long term loans made by the but that all of them were good. Fordland business men said the bank was expected to dollar for dollar if liquidated. pay

8. January 28, 1926 The Milan Republican Milan, MO
Article from The Milan Republican, January 28, 1926

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REPORTED SUICIDE ATTEMPT OF CASHIER CAUSES RUN ONBANK cratic members of congress earlier in the present session, with the purpose in view of delaying the passage of a tax relief bill, were speedily abandoned when the business leaders of the party and their principal newspaper organs advised them that their tax bill program would make for the annihilation of the party if persisted in by congressional leaders. Democratic leaders in congress started a campaign to delay or interfere with the enactment of the tax measure. But since getting advice from the real leaders of the party they are much more inclined to aid in putting the tax measure over, and it is now hoped that a relief bill will be passed before March first, tax day, or the limit which will afford tax relief for the present year. The people are almost a unit in demanding the passage of a tax relief measure, and they expect some such measure to be passed in time to apply to the present year's taxes. Perry McCormick and wife and ten year old son are quite sick with pneumonia fever. All are at their home near town. Mr. and Mrs. John L. McCabe are the parents of a baby boy, born Jan. 24, 1926. Mother and child are doing nicely. The teacher training club held its first meeting on Jan. 13. A very interesting program was carried out. The following officers were elected: President, Leonora Tittle; vice presdent, Harold Hayes; secretary, Juanita Emery; treasurer, Louise Higgins. The weekly grade assembly was held last Thursday afternoon. The seventh grade had charge of the program. It was enjoyed by all and was as follows: Flag song-Six seventh grade girls. Facts about the Flag Lorin Schoene. Reading-Lucille Shay. Instrumental solo - Veronica Payne. Relay races-Boys. Reading-Dorothy Griffith. Vocal solo-Avolee Rhae. Story-Esther Ditton. Violin solo-Kathleen Bragg. Cashier Suffered a Stroke of Paralysis and Rumor Converted Ailment Into An Attempt To Commit SelfDestruction. Springfield, Mo., Jan. 23.-A report that G. W. Jones, cashier of the Farmers State Bank at Fordland, Mo., had attempted to commit sui- cide, caused a "run" on the institu- tion, which resulted in its affairs being placed in the hands of the state finance department yesterday. Leon Clippard of Springfield, an official of the finance department was placed in The report that Jones had attempted suicide was caused when he suffered a stroke of paralysis, according to reports from Fordland. Mrs. Jones ran to a neighbor's house for a doc. tor and within a short time the re- port was circulated that the bank cashier had attempted to end his life. As soon as it became apparent that there would be a run on the bank, the officers of the institution notified the state banking department to take charge. Charles W. Moody, cashier of the McDaniel National Bank of Springfield, and former state bank examin- er, went to Fordland and examined the books. After making a detailed examination, the Springfield banker announced that there was no reason for a run on the institution as the

9. October 7, 1926 The Marshfield Mail Marshfield, MO
Article from The Marshfield Mail, October 7, 1926

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FORDLAND BANK TO BUILDING SAVED BY PAY OUT IN FULL NEW WATER SYSTEM Liquidation Just by Lang ston Believed to Have Set Record State, The report that H Langston, who appointed special deputy the Farmers State Bank Fordland, 20, shows that has collected out of the as pay 100 the dollar to and The report of the petition and circuit county Skinker bank valued mains after claims has of The counacting upon the report made an dividends claims further of appoint Officials stated that finance all control The bank capitalized for and of the nance forced to close its due to false that committed suicide bank W. Wood president and G. was Jones Officials connected with the liquithe bank stated that they just of the the pleted was one in Missouri history the that also few that has doors 100 the dollar to paid and The law firm of Farrington Curtis of represented the state nance in the liquidation proceedings. Two of the finest residences in town have just hands the week. purchased the Killian residence from Frank Kaufman and will move into it in about two weeks. Mr. Killian is going some Mr. Wisby his place to D. R. Swing who will move there Heavy Damage to Wholesale Grocer Stock Building By Fire Early Last Thursday Morning. The first test of Marshfield's water as against fire last when big brick by the Grocer Co. That the test proved value mildly minutes the fire was dishose made an increditably the big was The fire was discovered about man, and who While Mr. ran the office to turn in alarm, Mr. after large crowd many not hearing the gathered, The fire galned headway rapidly the turned in the first in the baseThe stream of the hose going the fire the water system the engine would have and would other buildings in block would have good There is telling what damage might have fire the water system has ways toward paying thought the fire started near the elevator the near damage to the stock the Grocery is estimated of by Chas Potter, the and mansThe building which one the most substantial Marshfield, and part of the John Foster estimated by John Foster to be $4,000.00. No aecurate estimate can be given until contractor gives figures on repairIt that new floors roof and windows will have be built throughout. Insurance was carried on both and contents. As Nightwatchman McDaniel had seen two parties fooling around the building on two nights week to the fire, he was in the Mr. that when he went after the fire he found tank in front of the carburetor down tight.